Pandemic Proofing Your Marketing - Primerus

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Pandemic Proofing Your Marketing - Primerus
2/26/2021

    Pandemic Proofing
    Your Marketing
    Tea Hoffmann, Esq.
    Managing Principal
    Law Strategy Coach
    teahoffmann@lawstrategycorp.com

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                                      •   Change Happens
                                      •   Some Thinks Remain the Same
       Agenda                         •    The Process
                                      •   Clients Matter
                                      •   Planning for Success
                                      •   90‐Day Challenge

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Pandemic Proofing Your Marketing - Primerus
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                Created in 1991
                    •   Buy and Sell Things
                    •   Market Ourselves and Our Firms
    Internet        •   Delivery of Goods and Services
                    •   Amount of Information We Consume
                    •   Speed of Communication
                    •   Way We Deliver Our Message

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                         • The first cell phone was invented in 1973 by Motorola
                         • The first widely used cell phone was the Siemens Mobiltelefon
                           C1, which came in the form of a suitcase was sold in 1985
    Communication        • 1994 first Smart Phone
                         • 2007 first I‐Phone
                         • The current global population of 7.7 billion people means the
                           smartphone penetration rate is at 45.4 percent

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            Technology

    • McKinsey estimates that 23% of work done by lawyers can be automated by existing
      technology
    • 57% of firms surveyed said that they budgeted for technology
    • Wolters Kluwer’s 2019 report “The Future Ready Lawyer”
         • Leading (49% of law firms): Effectively leveraging technology today and will continue
           to invest
         • Transitioning (47% of law firms): Somewhat leveraging technology, and plan to invest
           more
         • Trailing (4% of law firms): Not currently leveraging technology and have no plans to
           do so
    • According to the Survey, 68% of Technology Leading law and business services firms
      report increased profitability from 2017 to 2018, compared to just 52% of Transitioning
      firms.

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          Competition

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    Pandemic
    •   Remote work
    •   Less travel
    •   Technology in courtroom
    •   Reduced staff
    •   Real estate reviews
    •   Agility
    •   Less significant revenue impact than
        anticipated

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                Why Does This
                  Matter?

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      Some
      Things
      Never
     Change…

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               Marketing,
               Business
               Development
               and Client
               Development

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                      • Most lawyers don’t enjoy
                        or understand sales
      The Gap         • Most firms do not
                        provide training required
                        to develop business
                      • Many lawyers believe
                        they cannot play a role in
                        Mkt/BD/CD process
                      • Most firms have no
                        written plan for
                        Mkt/BD/CD
                      • Firms spend, on average,
                        about 3% of revenue on
                        Mkt/BD/CD as compared
                        to 12% by other
                        professional service firms
                      • Most firms are
                        understaffed in the
                        Mkt/BD/CD area

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     Bridge the Gap

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     Focus

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                         Profitability

                         Culture
     Long Term Law
     Firm Objectives     Staffing
     – All Impacted by
     Mkt/BD/CD Process   Client Care/Retention

                         Client Acquisition

                         Branding/Reputation

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     Clients Still Matter
                            • “There are two kinds of
                              lawyers: lawyers with
                              clients; and lawyers
                              who work for lawyers
                              with clients.”
                            • You could say there is
                              only one kind of law
                              firm – a law firm with
                              clients.

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     According to Clio's 2018
     Legal Trends Report, only
     4 percent of the nearly
     2,000 lawyers surveyed
     regularly collect formal
     client feedback in the
     form of surveys,
     interviews, etc.

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     Consider Asking…
     • Why did they choose your firm?        • Did they explore other firms before
     • What aspect of your firm is most        choosing yours?
       important to them?                    • Do they know what other practice
     • What do they NOT like about your        areas your firm provides?
       firm?
                                             • Is diversity important to them?
     • What could you be doing better?
                                             • How important is the firm’s
     • Was the service level what they         community and civic involvement ?
       expected?
     • Would they refer work to your firm?   • Was your firm responsive to their
                                               needs?
     • Did the firm meet your budgeting
       expectations?                         • Do firm rankings, testimonials,
                                               matter?

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      Most firms…                      Competitive Firms…

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                                Profitability

                                Culture
     Long Term Law
     Firm Objectives            Staffing
     – All Impacted by
     Mkt/BD/CD Process          Client Care/Retention

                                Client Acquisition

                                Branding/Reputation

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                                                • What practice area/industry
                                                  should you promote? Why?
                                                • What practice area is the
                                                  most profitable?
                                                • What is our firm known for?
                                                  What do we want to be
                                                  known for?
                                                • Is our entire firm engaged in
                                                  promoting our brand?
                                                • What type of new clients are
                                                  we seeking?
                                                • What tactics have worked in
                                                  the past?
                                                • Who is your best client
                                                  developer? Are you
                Analyze, Strategize,              awarding them for their
                                                  efforts?
                 Prioritize and Plan            • Are we expanding work
                                                  within our existing clients?

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                      • Set 90 days short‐term Mkt/BD/CR goals based on long
                        term objectives.
                          • Objective: To Increase the firm’s reputation in the
                            agriculture practice area over the next 90 days our
                            group will:
                              • Create compelling content ‐ Publish 2 blog
     Set Short Term             posts
                              • Post on social media – Weekly posts on social
          Goals                 media with valuable content
                              • Speak at trade group meeting – Contact trade
                                association and seek opportunities, present to
                                the group
                              • Update bios of the team – Pull existing bios
                                and do a training on better bios

                          • Accountability

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                                 How Brave Are You?
                                 • Where do you need to focus?
                                 • What short term goal should you
                                   set?
                                 • How much will it cost?
                                 • How do you communicate/achieve
                                   buy‐in?
                                 • How much time will it take?
                                   Realistic?
                                 • Who should be involved?
                                 • How will you measure success?
                                 • What is the desired outcome?
                                 • What is the next short‐term goal?

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                  • If you accept the 90‐Day Challenge and
                    would like to talk to me about your short‐
                    term goals, please reach out to me at
                    teahoffmann@lawstrategycoach.com.
                  • If you are interested in learning more about
                    our online training platform to propel your
                    lawyers to a greater understanding of
     Thank you…     Mkt/BD/CD please email me and I will send
                    you a link to a free lesson. Check it out at
                    lawstrategycoach.thinkific.com.
                  • If you would like to know more about the
                    services we provide, I would be delighted to
                    talk with you.

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